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Govt collects more tax than expected

The government collected more tax revenue than expected during the six-month interim period between April and September last year, U Maung Maung Win, deputy minister for the Ministry of Planning and Finance (MOPF) explained during a Union Hluttaw session on January 21. A total of K3.4 trillion was collected compared to the K2.8 trillion projected […]

IRD will reward those who lodge complaints on businesses that fail to pay tax

The government is raising its efforts to collect taxes from commercial enterprises. Last week, the Internal Revenue Department said it will reward those who provide information on establishments that fail to collect commercial taxes, according to state media. Under the law, consumers who buy goods and services in Myanmar are liable to pay commercial taxes. […]

Jewellers worry over tax hike on cut stones

Gem entrepreneurs will be required to pay a 10 per cent commercial tax on sales of finished stones, plus 15 per cent for uncut stones, even as other commercial taxes have been reduced under the 2015 Taxation Law, according to the Internal Revenue Department under the Ministry of Finance. Min Htut, director-general of the Internal […]

Challenges and opportunities in Myanmar

As Myanmar steps back onto the world stage with renewed vigour, living in the country during these exciting times is like being in a live-action movie. Every day brings new challenges, new developments and new opportunities. But underneath the glitz and glamour of visits from heads of state, hosting the SEA Games, and openings of […]

Over 10,000 Companies Called Out for Evading Tax Collectors

YANGON — Over 10,000 local companies have been called out for failing to pay taxes to the Myanmar government during the 2012-13 fiscal year. The Internal Revenue Department (IRD) on Thursday released a notice on its website listing 10,670 companies that are required to contact the department by March 20 because they did not pay […]